Columbia Products produced and sold 1,200 units of the company's only product in March. You have collected the following information from the accounting records: Sales price (per unit) $ 125 Manufacturing costs: Fixed overhead (for the month) $ 14,400 Direct labor (per unit) 6 Direct materials (per unit) 35 Variable overhead (per unit) 24 Marketing and administrative costs: Fixed costs (for month) 19,200 Variable costs (per unit) 3 4. Full absorption cost per unit _____ 5. Prime cost per unit. _ 6. Conversion cost per unit. 7. Profit margin per unit. _ 8. Contribution margin per unit. _ 9. Grosss margin per unit. _____

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Columbia Products produced and sold 1,200 units of the company's only product in March. You have collected the following information from the accounting records:

Sales price (per unit) $ 125

Manufacturing costs:

Fixed overhead (for the month) $ 14,400

Direct labor (per unit) 6

Direct materials (per unit) 35

Variable overhead (per unit) 24

Marketing and administrative costs:

Fixed costs (for month) 19,200

Variable costs (per unit) 3

4. Full absorption cost per unit _________

5. Prime cost per unit. _________

6. Conversion cost per unit. __________

7. Profit margin per unit. ___________

8. Contribution margin per unit. ___________

9. Grosss margin per unit. ___________

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